Vodafone Idea Q3 Results: Telecom company Vodafone Idea Ltd has shown signs of gradual improvement on its financial front in the December quarter (Q3). Due to better ARPU and operating performance, the company’s loss has reduced compared to the previous quarter, although the challenges are not completely over yet.
Loss reduced, revenue and EBITDA improved
Vodafone Idea reported a net loss of ₹5,286 crore in Q3, down from a loss of ₹5,524 crore in the previous quarter. On a quarterly basis, the company’s revenue increased by 1.1% to ₹ 11,323 crore.
Whereas EBITDA increased by 2.8% to reach ₹4,817 crore. During this period, EBITDA margin also improved from 41.8% to 42.5%.
Increase in ARPU, 4G-5G users increased
The company’s ARPU increased to ₹186 in the December quarter, from ₹173 a year ago. That means an increase of 7.3% was recorded on an annual basis, the main reason for which was customers upgrading to better plans.
The total subscriber base of the company was 19.29 crore. In this, the number of 4G and 5G users increased to 12.85 crore, which was 12.6 crore in the same period last year.
Capex and fund raising status
Vodafone Idea’s capital expenditure in the December quarter stood at ₹2,252 crore. Total capex in the first nine months of FY26 reached ₹6,448 crore.
The company’s bank debt as of December 31, 2025 was ₹1,126 crore. The company raised ₹3,300 crore through non-convertible debentures (NCDs) during the quarter. Whereas cash and bank balance stood at ₹6,963 crore.
NCD funding before AGR
Vodafone Idea said the fund raising through NCD was completed even before there was clarity on the AGR issue, which shows the confidence of lenders.
Vodafone Group is also supporting the closure of CLAM receivables worth ₹6,394 crore. AGR payment is no longer a pre-condition. Of this amount, about ₹2,300 crore is expected to be received in the next 12 months.
Complete schedule of AGR liability
According to Vodafone Idea, the company’s AGR liability is frozen at ₹87,695 crore till December 31, 2025, although its reassessment is underway. The company will have to pay ₹124 crore every year from FY26 to FY31.
After this, annual payment of ₹100 crore is scheduled from FY32 to FY35. The remaining amount will be paid in six equal installments between FY36 to FY41.
Vodafone share status
Ahead of the results announcement, Vodafone Idea shares closed at ₹9.89, down 0.40% on NSE. The stock is down 17.31% in the last 1 month. However, the stock has given a return of 38.71% in the last 6 months. The market cap of the company is Rs 1.07 lakh crore.
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